I Read The News Today Oh Boy! 2-Oct-2017

Monday, Oct 02 2017 by

Morning All!

Haynes Publishing (HYNS)

Acquisition – Fair play to those that spotted the value and potential in Haynes, the share price having almost doubled this past 12 months. This acquisition, funded from existing Cash and banking facilities feels like a good move. The Chairman has this to say "this acquisition will significantly strengthen the Group's professional data solutions offering in the UK and provide cross over benefits for Haynes' consumer division." Even with this news, on a PER of 17.2 here, I am still not converted, I remain NEUTRAL.

Plastics Capital (PLA)

Trading Update For The Financial Year To Date (the 6 months since 31 March 2017) – “In-line with market expectations” and a year of good progress is anticipated. There does seem to be some caution here though…


This company seems OK on the face of it except for that Net Debt of £16.3m (35% or so of Mkt Cap). The SCVR guys and other Stockopedia members have also flagged issues (most recently here ). That’s plenty reason for me to put this on my AVOID list.

Renew Holdings (RNWH)

Trading Update For The Year Ended September 2017 – “In-line with market expectations” and this is positive…


Revenue, Profit and EPS growth is steady here. ROCE is great at 50% and the rising 2%+ Dividend yield is quite well covered. The move to Net Cash is also good news. I quite like this but on a PER of 12.1 it seems fairly priced around here – I am NEUTRAL for now.

Treatt (TET)

Trading Update For The Year Ended September 2017 – Expects to be “comfortably in-line with its expectations which were revised upward during the course of the year”. Doubled this past 12 months it’s on a PER of 23 here. The figures look good and I guess comfortably in-line with revised upwards forecasts is pretty good news. However, I just can’t help but think (in a bull market that seems to be slowing) this is still a little expensive here (even at 10% off it's all time highs) - I’m NEUTRAL for now.

Numis (NUM)

Trading Update For The Year Ended September 2017 – A positive update confirmed by this statement…


I like the look of this company, nice all round growth which seems to be around the 15% mark. The ROCE is great (20%+), the Dividend of 4%+ is reasonably well covered and there’s plenty of Cash too. Kicking myself for not getting in earlier in the year – It’s on my WATCHLIST, I’m interested around the 250p level.

Game Digital (GMD)

Just a word of note for those wondering about any price increase today - Covered and tipped in SCSW.

Nothing to get me overly excited in the markets here this morning – All input and comment, as always, welcome and appreciated…


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Haynes Publishing Group P.L.C. is a United Kingdom-based company, which creates and supplies practical and informative content to consumers and professional mechanics in print and digital formats. The Company operates through two geographical segments: UK & Europe, and North America & Australia. The UK & Europe segment has subsidiaries in the Netherlands and Italy, among others. Its core business is the publication and supply of automotive repair and technical information to the professional automotive and do it yourself (DIY) aftermarkets in both a print and digital format. The North America & Australia segment publishes DIY repair manuals for cars and motorcycles in both a print and digital format. It publishes titles under the Haynes, Chilton and Clymer brands, in both English and Spanish. It has a branch operation in Sydney, Australia, which publishes various products under both the Haynes and Gregory's brands. Its consumer content is delivered via both print and digital channels. more »

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Plastics Capital plc is a holding company. The Company is principally engaged in the manufacture of plastic products focused on products for various markets exporting to over 80 countries across the world. Its segments include Industrial, which consists of hydraulic hose consumables, packaging consumables and plastic rotating parts, and Films, which includes high strength film packaging. Its operations are based on the six operating businesses: BNL (UK) Limited, which makes plastics rotating parts; Palagan Limited, which makes high strength film packaging; C&T Matrix Limited, which makes the packaging consumable of creasing matrix; Bell Plastics Limited, which makes hydraulic hose consumables; Beijing Higher Shengli Printing Science and Technology Co Ltd, which also makes creasing matrix, and Flexipol Packaging Limited, which makes high strength film packaging and bags. It has over five factories in the United Kingdom, approximately two in China and over one in Thailand more »

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Renew Holdings plc operates as a contractor in engineering services and specialist building. The Company's activities are carried out in the United Kingdom with some development activities in the United States. The Company's segments include Engineering Services, which comprises the engineering activities, which are characterized by the use of the Company's engineering workforce, supplemented by specialist subcontractors where appropriate, in a range of civil, mechanical and electrical engineering applications and; Specialist Building, which comprises the building activities, which are characterized by the use of a supply chain of subcontractors to carry out building works under the control of the Company as principal contractor, and Central activities, which include the sale of land for development, the leasing and sub-leasing of some United Kingdom properties and the provision of central services to the operating subsidiaries. more »

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  Is LON:HYNS fundamentally strong or weak? Find out More »

13 Posts on this Thread show/hide all

MrContrarian 2nd Oct '17 1 of 13

My morning smallcap tweet:

Starcom (LON:STAR), Gloo Networks (LON:GLOO), Numis (LON:NUM), Stanley Gibbons (LON:SGI)

Starcom (STAR) CFO resigns immediate effect. No reason.
Gloo Networks (GLOO) Chief Product & Operations Officer, has resigned and left the Board but will continue to work with the Company until end 2017.
Numis (NUM) H2 trading. Rev up 38%. FY rev and profit up 15%. F/C was for 9% rise in rev.
Stanley Gibbons (SGI) FY pretax -£30.2m (-£27.9m). Net debt cut from £21.9m to £16.5m. Current trading difficult. Debt: "there can be no guarantee that the bank will provide facilities beyond 31 May 2018 and the Company is likely to require access to further liquidity in the intervening period...The Company has to date received a number of proposals for all or some of the business. Given the complicated restructuring which the business has gone through and certain legacy liabilities which remain, it is the Board's current view that an asset sale or strategic investment may potentially provide a more favourable outcome for shareholders than an offer for the Company as a whole. We remain in negotiation with several parties."

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matylda 2nd Oct '17 2 of 13

In reply to post #224308

Thanks as always MrC - I missed Numis as it came out at 7:30 ish. Like Numis so have now added.

Thanks again.

Blog: Briefed Up
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MrContrarian 2nd Oct '17 3 of 13

In reply to post #224318

I have set up email alerts from the London Stock Exchange for trading stmts, response to press comment, offers etc.

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Logic 2nd Oct '17 4 of 13

Seems most of the home builders are up after government said they'll throw another 10 billion pounds at propping up property prices, ahem, I mean, "help to buy". Taylor Wimpey (LON:TW.), Barratt Developments (LON:BDEV), etc.

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FREng 2nd Oct '17 5 of 13

In reply to post #224333

It would appear that there is a magic money tree after all and that Corbyn just spotted it first. I wonder where this madness will end.

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matylda 3rd Oct '17 6 of 13

In reply to post #224323

Does it not get overwhelming ?

Blog: Briefed Up
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MrContrarian 3rd Oct '17 7 of 13

In reply to post #224533

I get about 5-12 before 8am then one every 2h or so.

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matylda 3rd Oct '17 8 of 13

In reply to post #224578

Not too bad then - londonstockexchange.com - yes ?

Blog: Briefed Up
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drvodkaquickstep 3rd Oct '17 9 of 13

My investment case for is Haynes Publishing (LON:HYNS) here:


Further broker (Panmure) upgrade yesterday and looking forward to further news of freehold property sales. Plenty to like...

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MrContrarian 3rd Oct '17 10 of 13

In reply to post #224583

I set alerts for Statement re Press Comment stories, Statement re Possible Offer, Statement re Share Price Movement and Trading Statement

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matylda 3rd Oct '17 11 of 13

In reply to post #224623

Most grateful - Thanks

Blog: Briefed Up
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herbie47 23rd Oct '17 12 of 13

I note Treatt (LON:TET) is down quite a bit in the last few days, tempted to buy back in at this level. Can't find any news, seems to be a trend recently, even shares with decent trading updates have fallen back.

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tomg23 23rd Oct '17 13 of 13

In reply to post #232033

Hi Herbie

I held Treatt (LON:TET) before the update and noticed things turned south a few days after so sold out. Seems overdone but at the same time the valuation may be a little rich still. It looks tempting but I will be waiting to see some consolidation before jumping back in

All the best

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